Comments

This 56 year old did all his Christmas shopping online two weeks before Christmas in the warmth and comfort of my office. Life is good.

Posted by Trevor Gay at January 9, 2009 5:08 PM

Tom - Great story, great study. You are vindicated :) I am 30 and work in an advertising agency with my 60 year old father. We combat these "assumptions" about media consumption frequently and try not to make them ourselves but inadvertendly do sometimes. For shame. Long time reader/listener/learner; first time commenter. Keep it up! Posted this to my crowd as well:

http://westerad.blogspot.com/2009/01/to-assume-makes.html

Posted by Nick Westergaard at January 10, 2009 1:23 PM

Of course we will have to deal with our retirement funds becoming a calculus exercise as they approach the lower limit of zero. And that second home we thought was a great refuge is now an albatross around the ole neck, but hey, life really is good.

Posted by Wally Bock at January 11, 2009 3:50 PM

"but hey, life really is good."

Here here Wally - we don't have to look far to see REAL poverty. Happy Sunday!

Posted by Trevor Gay at January 11, 2009 4:39 PM

Thanks, Nick, for your first Comment. As you can see, obesity has stolen the march here. I am truly sorry this Post has not garnered many Comments--I think the finding re consumer behavior is stunning--and the implications are mamouth!

Posted by tom peters at January 11, 2009 4:51 PM

I also wonder if many Boomers, as a good friend and partner for many years, held on to their cash as opposed to investing in the market. My partner most certainly invested; in fact, he trades everyday--though this is not his profession. He is sitting on hoards and hoards of cash. Perhaps other Boomers too?

He tells me that his Irish grandfather, who grew up in The Depression, would rend his ear and say, "Save, my dear lad. Hold on to your cash." (He kept his money underneath his mattress.) My friend most certainly saved, telling me for many years where we were heading. The illiquidity in the system was no surprise to him and me either as a previous top producing real estate professional who worked closely with banks and mortgage companies. He is very liquid which is quite advantageous now.

But will my Boomer friend spend online? Dunno. He's simply not a big spender. He doesn’t have such from spending. We have, however, bought more than a few houses with cash, putting people back into homes that banks will not lend to for credit reasons, though they are all professionals. Those with renovation services and products we need we seek out.

I say this to say that Boomers probably have more cash.

Posted by Judith Ellis at January 12, 2009 8:28 AM

I read the piece today and was somewhat depressed by what this brave new world appears to look like.

"..could be a smart choice for grandparents. It has a large, easy-to-read display and big buttons to simplify dialing. The sound is amplified, making it twice as loud, the company claims, as an ordinary cellphone...one-touch emergency-response button on the back of the phone lets seniors quickly summon assistance; the phone calls and texts up to five contacts, cycling through each until someone is reached. A siren lets users know the feature has been activated."

And .......

"...hearing aid compatibility and a noise-reduction cushion, and it's backed by round-the-clock U.S.-based customer service...bright and comfortable keys...Care bundle that will include emergency roadside assistance and a live nurse feature. "Safety and security is the concern of this demographic," he says, "not games and TV on the phone.""

Big buttons, simplified dialling, emergency response button, live nurse feature, no games - this is the language (and market) of advancing senility, not Boomers. [Though actually, the live nurse feature sounds like it could be an attractive feature to a much younger demographic.]

I suggest there's still some (as in a long) way to go before the manufacturers really get it.

Posted by Rob at January 14, 2009 3:12 AM

Perhaps the above has more to do with marketing than manufacturing. I assume that man of the features above might be very relevant for a large section of the population, including some Boomers.

To be reminded of one's fragility, however, may not be the best marketing tool. But what is for certain is that from a manufacturing standpoint many of the features above are indeed needed. Rob's point, thought, is well taken.

Perhaps some here can jump all over this for the manufactures and clean up. Hmmm?

Posted by Judith Ellis at January 14, 2009 7:54 AM